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Form 8288-B for Burbank California: What You Should Know

Application for  Holding Certificate for Dispositions and Taxable Property — Section 1445 A form 8288 B is used to apply for a withholding tax from you, the taxpayer, on income that you disposed of in California during calendar year 2013. Form 8288 B is used in California when: If you are an individual, and you own real property in California. In the first year you own these properties or any portion of the properties, you must have a withholding credit available for income subject to California tax (such as, interest, dividends, federally taxable social security and Medicare, and qualified long term capital gains).  If you have any of the following properties, in the first year you own them or any portion of either or any combination of them, you must have a withholding credit available for income subject to California tax (such as, interest, dividends, federally taxable social security and Medicare, and qualified long term capital gains) (if you own property or other gains with respect to, during the same tax year, any such properties, you must have one). If you have any of the following properties, in the first calendar year you own them or any portion of either or any combination of them, you must have a withholding credit available for income subject to California tax (such as, interest) (if you own property or other gains with that value, you must have one).  If you own or have any of the following properties, your property is not taxable under any provision of Section 3401 of the Public Utilities Code until you have a withholding credit in effect: If you own or have any of the following properties, any of which is: Any taxable property acquired during the taxable year does not, at the time you purchase such property, be subject to the withholding tax described in this schedule. For each taxable property that you acquired, the gross income of the property at the time of acquisition was subject to the withholding tax described in this schedule. At the time you acquired the property, the income to which this schedule would otherwise apply must be reduced or eliminated before the withholding tax described in this schedule. (These penalties can be reduced or eliminated by satisfying substantial obligations to you or to a third party or by surrendering the property to you or another person.

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